U.S. Dollar Berjaya Post-NFP.
The U.S. dollar managed to score the biggest weekly gain in more than
three-month high against the yen after data showed the U.S.
economy created more jobs than expected last month. 171,000 new jobs created in the U.S. during the month of October, which far
exceeded expectations of 125,000 jobs growth. However, the U.S.
unemployment rate still recorded a slight increase to 7.9%, according
to predictions.
"Dollar Rally makes sense because the world's largest economy showed signs of recovery faster than other parts of the world," said . Andrew Wilkinson, chief economic analyst at Miller Tabak & Co.. in New York. Yen continued to be in that pressure after some recent data and Japanese corporate earnings showed weakness. Moreover quarter economic output data 3rd the plan will be released on November 11 is also expected to contract.
"Dollar Rally makes sense because the world's largest economy showed signs of recovery faster than other parts of the world," said . Andrew Wilkinson, chief economic analyst at Miller Tabak & Co.. in New York. Yen continued to be in that pressure after some recent data and Japanese corporate earnings showed weakness. Moreover quarter economic output data 3rd the plan will be released on November 11 is also expected to contract.
Manufacturing Sector Contraction overload Euro
The euro fell to a 3-week lows versus the U.S. dollar on Friday after data showed the U.S. economy created more jobs last month. The euro was also weighed down by data confirming the occurrence of a contraction in the manufacturing sector. Eurozone manufacturing index slipped to 45.4 in October from 46.1 in the previous month, according to Markit Economics in London. The downward break the recovery of the manufacturing sector are shown in the previous 2 months.
The euro is still burdened by a Greek court on Thursday, stating that the pension reform required by international creditors may be unconstitutional. Thereby triggering anxiety about applying step austerity measures needed to secure reimbursement Athens next bailout.
Failed to Save the Sterling Construction Data
Pound sharply lower against the greenback on Friday after U.S. jobs data boosted the outlook for the world's biggest economy. But Sterling is still able to continue dominance against the Euro, helped by the UK construction data were better than expected. UK construction PMI expanded again in October with a rise to 50.9, although the company remains cautious on future growth. Some recent UK economic data has supported the positive optimism over economic recovery.
To further focus of investors will be drawn to the data of the dominant services sector PMI on Monday. Market participants will also be looking forward to the BoE rate decision on Thursday, which policy makers will also decide whether to add to its asset purchase program worth £ 375 billion, or not.
The euro fell to a 3-week lows versus the U.S. dollar on Friday after data showed the U.S. economy created more jobs last month. The euro was also weighed down by data confirming the occurrence of a contraction in the manufacturing sector. Eurozone manufacturing index slipped to 45.4 in October from 46.1 in the previous month, according to Markit Economics in London. The downward break the recovery of the manufacturing sector are shown in the previous 2 months.
The euro is still burdened by a Greek court on Thursday, stating that the pension reform required by international creditors may be unconstitutional. Thereby triggering anxiety about applying step austerity measures needed to secure reimbursement Athens next bailout.
Failed to Save the Sterling Construction Data
Pound sharply lower against the greenback on Friday after U.S. jobs data boosted the outlook for the world's biggest economy. But Sterling is still able to continue dominance against the Euro, helped by the UK construction data were better than expected. UK construction PMI expanded again in October with a rise to 50.9, although the company remains cautious on future growth. Some recent UK economic data has supported the positive optimism over economic recovery.
To further focus of investors will be drawn to the data of the dominant services sector PMI on Monday. Market participants will also be looking forward to the BoE rate decision on Thursday, which policy makers will also decide whether to add to its asset purchase program worth £ 375 billion, or not.
0 Comment to "U.S. Dollar Win Post-NFP"
Post a Comment
Thanks for comment here, admin.